Petronet LNG Q2 results, Profit Rises 4% at Rs 848 crore

Petronet LNG Ltd, India's biggest liquefied natural gas importer, reported a 4 percent rise in its second-quarter profit on higher capacity utilization at its flagship Dahej import terminal in Gujarat.

Net profit was Rs 848 crore in July-September - the second quarter of the current 2024-25 fiscal year - as compared to Rs 818 crore earnings in the same period a year back.

Petronet CEO and Managing Director A K Singh said throughput at Dahej terminal rose by 7 percent in the second quarter when compared with the year-ago period. 

The Record date has been fixed as Friday, 8th November 2024 for the purpose of ascertaining the entitlement of Members to the Interim Dividend of Rs. 7.00 (Seven Rupees only) per share (on the face value of Rs. 10/- each) on the equity shares of the Company for the financial year 2024-25 declared by the Board of Directors of the Company in their meeting held on 24th October, 2024.

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The overall LNG volume processed by the company in the current quarter was 239 TBTU, up from 223 TBTU last year but lower than 262 TBTU in the preceding quarter.

During the half year of the financial year, Dahej terminal processed the highest ever 473 TBTU of LNG as against 428 TBTU during the corresponding half year ended September 30, 2023. The highest ever overall LNG volume processed by the company in the first half year was 501 TBTU, as against the LNG volume processed in the corresponding half year, which stood at 453 TBTU.

During April-September, the company reported a net profit of Rs 1,989 crore as against Rs 1,608 crore in the corresponding half-year. "The robust financial performance of the current quarter and half year was achieved due to efficiency in operations and higher capacity utilization of the Dahej Terminal," he added.

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